Published on 4/19/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $5 million contingent income autocallables on three indexes
New York, April 19 – Morgan Stanley Finance LLC priced $5 million of contingent income autocallable securities due Oct. 16, 2025 linked to the Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid quarterly, if each underlying index closes at or above its 75% downside threshold on the related quarterly observation date.
The securities will be called automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any quarterly call determination date starting Oct. 10, 2024.
At maturity, the payout will be par unless the worst performing index finishes below its 75% downside threshold level, in which case investors will be fully exposed to the decline of the worst performing index.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Contingent income autocallable securities
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Underlying indexes: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
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Amount: | $5 million
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Maturity: | Oct. 16, 2025
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Coupon: | 10%, paid quarterly, if each underlying index closes at or above its 75% downside threshold on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing index finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing index
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Call: | Automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any quarterly call determination date starting Oct. 10, 2024
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Initial levels: | 18,011.65 for Nasdaq-100, 2,028.389 for Russell 2000, 5,160.64 for S&P 500
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Downside thresholds: | 13,508.738 for Nasdaq-100, 1,521.292 for Russell 2000, 3,870.48 for S&P 500, 75% of initial level
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Strike date: | April 10
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Pricing date: | April 11
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Settlement date: | April 16
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.8%
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Cusip: | 61776LUA3
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